Originally Posted by
Snoopy
Don't know the terms of the cash issue yet. But given the discount offered on the DRP of 10%, it would have to be greater than that. With the share price nudging $1.50, I am predicting the 1:3 offer will be pitched at $1.20.
For this reason I have been a seller of SCT of late. Let some of my shares go in a rising market at $1.40. That topped up the capital I needed to fully fund the cash issue from my perspective. Then stuck some more in the market at $1.49 and I think the last of those were gobbled up today. Some would regard this as impetuous, as with the benefit of hindsight it looks like I could have sold all of my shares at $1.49. Perhaps but it was important to me to bank that cash issue money and there was certainly no guarantee a week ago that I could have sold any shares at $1.49. The sales at $1.49 were for me a bonus, and enabled me to reduce my average entry price down to $1.16.